Terms of Payment Basics

Steps :

U001 – 10 DAYS No Default

U002 – 10 DAYS Document Date

U003 – 10 DAYS Posting Date

U004 – 10 DAYS Entry Date

1. Maintenance Of Terms Of Payment – TC – OBB8 ---- No Default

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of
Payment

Click on "New entries"

Payment terms =

Account type: If we want to use same payment terms for both

Select "Vendor" Check Box Vendor and Customer select both check boxes
 Select "Customer" Check Box

Default Baseline Date:

Select "No Default" Check Box

Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save

2. Maintenance Of Terms Of Payment – TC – OBB8 ---- Document Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of
Payment

Click on "New entries"

Payment terms =

Account type: If we want to use same payment terms for both

Select "Vendor" Check Box Vendor and Customer select both check boxes

Select "Customer" Check Box

Default Baseline Date:

Select "Document Date" Check Box

Payment Terms:

Term % No of Days
1 10
Sales Text =
Click on Save

3. Maintenance Of Terms Of Payment – TC – OBB8---- Posting Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of
Payment

Click on "New entries"

Payment terms =

Account type: If we want to use same payment terms for both

Select "Vendor" Check Box Vendor and Customer select both check boxes

Select "Customer" Check Box

Default Baseline Date:

Select "Posting Date" Check Box

Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save

4. Maintenance Of Terms Of Payment – TC – OBB8 ---- Entry Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of
Payment
 Click on "New entries"
Payment terms =

Account type: If we want to use same payment terms for both

Select "Vendor" Check Box Vendor and Customer select both check boxes

Select "Customer" Check Box

Default Baseline Date:

Select "Entry Date" Check Box

Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save
‘---------------------------------------------------------------------------------------------
400000 RM Consumption A/c Dr 100
To Vendor A/c (400000) Cr 100

Post 4 Entries
‘---------------------------------------------------------------------------------------------

5. Posting Vendor Invoice – FB60

SAP Menu->Accounting->Financial Accounting->Accounts Payable->Document
Entry->Invoice
Change Company Code:
Edit - Change Company Code
Company Code = Press Enter
 Vendor = Invoice Date =
Amount =
Text =
Click on Payment Tab
Payment Terms =

Items
G/L A/c = Amount =
Text =+
Business Area =
Ensure that balance Field should be equal to ZERO
Click on Simulate Button
Click on Save to Post

6. Check Vendor Line Item Report -TC -FBL1N

Vendor account =
Company code =
Select "open items"
Open at key date =
Click on "execute”

Note: Net Due date column